BELO SUN RELEASES RESULTS FOR 74 ADDITIONAL DRILL HOLES AT ITS VOLTA GRANDE PROJECT

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1 BELO SUN RELEASES RESULTS FOR 74 ADDITIONAL DRILL HOLES AT ITS VOLTA GRANDE PROJECT TORONTO, July 24 th, 2013 Belo Sun Mining Corp. (TSX:BSX) has received assays for 74 additional drill holes (corresponding to 15,813 meters of drilling) at its Volta Gre Project. This drilling has been designed to exp upgrade the current resources estimate. The results being released today are being incorporated into a database will be used in the new mineral resource estimate expected to be completed in early Q3 this year. There are no pending results for the 2013 drill program. Belo Sun has completed 203,235 meters of drilling (767 drill holes) since April Included in this release are the assay results from seven drill holes from the Grota Seca deposit, 23 from the Ouro Verde deposit (most of them from the Junction OuroVerde/Grota Seca area), 35 from the South block area as well as nine from the Anapu Regional target. The complete results are presented below. Highlights from the holes included in this release are: For the South Block, at the Pequi target area, hole VVGD-688 intersected meters grading 6.32 g/t Au (from meters) shallow high grade intersections at the Itata target area in hole VVGD-693 with 5.88 meters grading 8.02 g/t Au (from meters) hole VVGD-656 with 4.40 meters grading g/t Au (from meters). Hole VVGD-689 (at the Grota Seca deposit) intersected meters grading 1.91 g/t Au (from meters). This intercept represents a new mineralized zone that is located parallel to the main Central zone. A significant down dip intercept at the Ouro Verde deposit Northwest extension in hole VVGD-640 at section 1150 NW with meters grading 2.08 g/t Au (from 25 meters). The Volta Gre Pit constrained mineral resources has 4.7 million ounces in the Measured Indicated category grading 1.68 g/t 2.2 million ounces grading 1.85 g/t in the Inferred category (see press release dated April 15 th 2013 Technical Report filed on SEDAR). The focus of this campaign has been to upgrade Inferred resources into the Measured Indicated category to exp the overall size of the resource.

2 TABLE 1 DIAMOND DRILLING ASSAY RESULTS The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width. Hole # From (m) To (m) Width (m) VVGD-636 VVGD-639 VVGD VVGD VVGD VVGD VVGD VVGD-650 VVGD VVGD VVGD VVGD VVGD VVGD-661 VVGD VVGD VVGD-667 VVGD VVGD-669 VVGD-672 South Block Target Au g/t Hole # From (m) To (m) Width (m) Au g/t VVGD VVGD VVGD VVGD VVGD VVGD-683 VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD

3 Hole # From (m) To (m) Width (m) VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD-652 VVGD VVGD Ouro Verde Deposit Au g/t Hole # From (m) To (m) Width (m) 0.51 VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD VVGD Au g/t

4 Hole # VVGD-662 VVGD-664 VVGD-666 VVGD-671 VVGD-677 VVGD-689 VVGD-694 Grota Seca Deposit From (m) To (m) Width (m) Au g/t Hole # BSBD-001 BSBD-002 BSBD-003 BSBD-004 BSJD-001 BSJD-002 BSJD-003 BSJD-004 BSJD-005 Anapu Target From (m) To (m) Width (m) Au g/t

5 Quality Assurance Quality Control The scientific technical information in this press release has been reviewed approved by David Gower, P. Geo., an advisor to Belo Sun a Qualified Person as defined by National Instrument The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun s exploration manager. Belo Sun s procedures for hling drill core comprise initial description logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail marked for sampling. Core is then cut in half with the right-h portion of the core put into plastic sample bags sealed. The left-h portion is returned to the core box is stored for future reference or study. Assay stard Blank samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Volta Gre Project site. The assay samples are then fine-crushed to better than 80% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality provide assurances to Belo Sun that the assay data is representative of the original sample. About the Company Belo Sun Mining Corp. is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun s primary focus is on advancing exping its 100% owned Volta Gre Gold Project, located in Para State. Belo Sun trades on the TSX under the symbol BSX. For more information about Belo Sun please visit Cautionary Statement on Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding: the impact of these drill results on Belo Sun its understing of the project; the development potential timetable of the company s projects; the estimation of mineral resources; realization of mineral resource estimates; the timing amount of estimated future exploration; costs of future activities; capital operating expenditures; success of exploration activities; currency exchange rates; government regulation of mining operations; environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known unknown risks, uncertainties other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. For further information, please contact: Mark Eaton, President CEO Belo Sun Mining Corp. Tel:(416)

6 Figure 1 Ouro Verde Grota Seca Geological Map

7 Figure 2 South Block Geological Map